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Asset-Backed Securities Issued (Tables)
 9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Asset-Backed Securities Issued
The carrying values of ABS issued by Sequoia securitization entities we sponsored at September 30, 2018 and December 31, 2017, along with other selected information, are summarized in the following table.

Table 13.1 – Asset-Backed Securities Issued
September 30, 2018
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac
K-Series
 
Total
(Dollars in Thousands)
 
 
 
 
Certificates with principal balance
 
$
574,615

 
$
1,952,059

 
$
867,705

 
$
3,394,379

Interest-only certificates
 
1,447

 
27,763

 
35,358

 
64,568

Market valuation adjustments
 
(31,139
)
 
6,634

 
(27,457
)
 
(51,962
)
ABS Issued, Net
 
$
544,923

 
$
1,986,456

 
$
875,606

 
$
3,406,985

Range of weighted average interest rates, by series
 
2.33% to 3.43%

 
4.47% to 4.97%

 
3.39% to 3.80%

 
 
Stated maturities
 
2024 - 2036

 
2047 - 2048

 
2025 - 2027

 
 
Number of series
 
20

 
6

 
2

 
 

December 31, 2017
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac
K-Series
 
Total
(Dollars in Thousands)
 
 
 
 
Certificates with principal balance
 
$
691,125

 
$
526,657

 
$
—

 
$
1,217,782

Interest-only certificates
 
1,972

 
7,695

 
—

 
9,667

Market valuation adjustments
 
(70,652
)
 
7,788

 
—

 
(62,864
)
ABS Issued, Net
 
$
622,445

 
$
542,140

 
$
—

 
$
1,164,585

Range of weighted average interest rates, by series
 
1.46% to 2.78%

 
4.52% to 4.73%

 
—
%
 
 
Stated maturities
 
2024 - 2036

 
2047

 
—

 
 
Number of series
 
20

 
2

 
—

 
 
Accrued Interest Payable on Asset-Backed Securities Issued
Accrued Interest Payable on Asset-Backed Securities Issued
(In Thousands)
 
September 30, 2018
 
December 31, 2017
Legacy Sequoia
 
$
590

 
$
537

Sequoia Choice
 
7,643

 
2,031

Freddie Mac K-Series
 
2,606

 
—

Total Accrued Interest Payable on ABS Issued
 
$
10,839

 
$
2,568
Collateral for ABS Issued
The following table summarizes the carrying value components of the collateral for ABS issued and outstanding at September 30, 2018 and December 31, 2017.
Table 13.3 – Collateral for Asset-Backed Securities Issued
September 30, 2018
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac
K-Series
 
Total
(In Thousands)
 
 
 
 
Residential loans
 
$
553,958

 
$
2,181,195

 
$
—

 
$
2,735,153

Multifamily loans
 
—

 
—

 
942,165

 
942,165

Restricted cash
 
147

 
11

 
—

 
158

Accrued interest receivable
 
860

 
9,046

 
2,843

 
12,749

REO
 
2,915

 
—

 
—

 
2,915

Total Collateral for ABS Issued
 
$
557,880

 
$
2,190,252

 
$
945,008

 
$
3,693,140

December 31, 2017
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac
K-Series
 
Total
(In Thousands)
 
 
 
 
Residential loans
 
$
632,817

 
$
620,062

 
$
—

 
$
1,252,879

Restricted cash
 
147

 
4

 
—

 
151

Accrued interest receivable
 
867

 
2,524

 
—

 
3,391

REO
 
3,353

 
—

 
—

 
3,353

Total Collateral for ABS Issued
 
$
637,184

 
$
622,590

 
$
—

 
$
1,259,774